The entire world economy is at risk from a glut of cheap Chinese exports, France¡¯s Finance Minister Bruno Le Maire said in tandem with a barrage of joint criticism from the Group of Seven.
¡°We have an issue with the economic model in which China is producing more and more cheaper industrial devices because it could be a threat not only for the EU, not only for the U.S., but for the global world economy,¡± Le Maire said in an interview with Bloomberg Television. ¡°We need to address that issue.¡±
Leading industrialized nations are coalescing for a tougher and more united challenge to overcapacities in China, which they say threaten their domestic manufacturers.
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